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On September 18, Zhang Qiang, Director of the Urban Management Supervision Bureau of the Ministry of Housing and Urban-Rural Development, stated at a press conference held by the State Council Information Office that during the 15th Five-Year Plan period, 115,000 old urban residential communities will be newly renovated nationwide, 5,000 communities will undergo complete community construction and renovation, and 575,000 residential elevators will be updated and installed.Bank of Japan: CPI has risen moderately recently, remaining in the 1.5%-2.0% range.Bank of Japan: Despite some signs of weakness, the Japanese economy has recovered moderately.On September 18th, Zhang Xuetao, Director of the Real Estate Market Supervision Department of the Ministry of Housing and Urban-Rural Development, stated at a press conference held by the State Council Information Office that during the 15th Five-Year Plan period, efforts will be made to improve the quality and efficiency of housing provident fund management and services. This will be achieved through digital empowerment, simplifying housing provident fund withdrawal procedures, shortening loan processing times, promoting mutual recognition and trust of contribution records nationwide, and facilitating the efficient handling of housing provident fund transfers, inter-city loans, and other related services.Bank of Japan policy board member Toshiro Asada: The recent CPI (excluding fresh food) growth rate is below 2%, so it cannot be simply said that the economic situation is strong.

As focus shifts to RBA policy, the AUD/NZD crosses 1.120

Alina Haynes

Jul 29, 2022 10:54

 截屏2022-07-29 上午9.50.25.png

 

After turning around at the crucial support level of 1.1100 on Thursday, the AUD/NZD pair has since moved sideways. The narrow consolidation range between 1.1105 and 1.1119, which was created during the Asian session, has been violated by the cross. The Reserve Bank of Australia is expected to increase interest rates by 50 basis points (bps) for the second time in a row (RBA).

 

The RBA will review the Official Cash Rate at its upcoming monthly monetary policy meeting (OCR). According to a Reuters poll, RBA Governor Philip Lowe will increase the OCR for the third time in a row by 50 basis points. The OCR will rise to 1.85 percent as a result. Policy tightening is required in view of the growing pricing pressures in the Australian economy. In the second quarter of CY2022, the Australian Consumer Price Index (CPI) increased to 6.1 percent.

 

The inflation rate was higher than the prior measurement of 5.1 percent even though it remained 10 basis points below the consensus. By the end of September, the cash rate is predicted by 19 of the 31 economists surveyed by Reuters who have a long-term perspective on rates to be at 2.35 percent or higher. This raises the possibility of the expected fourth consecutive rate rise of 50 basis points.

 

Kiwi bulls in New Zealand have not benefited from rising ANZ- Roy Morgan Consumer Confidence statistics. The qualitative data now stands at 81.9, an increase over the prior report's 80.5. The labor market figures for New Zealand will be released next week, which is crucial.


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